FHFA Director Mark Calabria said to exit conservatorship Fannie Mae and Freddie Mac will have to be adequately capitalized and make appropriate changes to their culture.

It was a bravura performance for the FHA’s Mutual Mortgage Insurance Fund in fiscal 2019. The MMIF ended the year with a capital ratio of 4.8%, more than double the statutory minimum.

Plenty of investors are looking to acquire servicing rights, including a handful of banks, according to industry participants. The outlook for the sector is rosy, though early-stage delinquencies are on the rise.

Pennsylvania regulators hit nonbanks with fines for servicing mortgages in the state without a license.

The non-QM market has been so hot this year that M&A activity is beginning to pick up a head of steam. Luxury Mortgage is the latest lender to pull the sale ripcord. There could be more.

One of these days, the two mortgage giants will commence with a new stock offering. Right? The market seems to be betting on the fact, as are the government-sponsored enterprises.

Contrary to recent reports, McKinsey will not help Freddie develop a plan to exit conservatorship. The contract is a routine part of stress testing.

Aside from g-fee pricing, most of the ways the GSEs could engage in volume discounting would take place in the secondary market. That means they’re not really violating regulations.

PennyMac wants out of its servicing platform marriage with vendor Black Knight. As might be expected, lawsuits and nasty allegations are the order of the day. The two have been working together for 10-plus years.

PennyMac Financial is doing so well these days that it decided to declare a dividend to its common shareholders. When’s the last time a nonbank accomplished such a feat? Hard to say.